Carson Valley Real Estate – January 2012 Homes Sold Market Report

Carson Valley Real Estate – January 2012 Home Sales Report

The Carson Valley real estate market typically is pretty quiet in January – but the winds of change are blowing – HARD. We have had an incredibly mild winter and it feels like spring everywhere. Just like we saw in January 2011, home sales are up! That’s right, the Carson Valley area saw 47 home sales in January 2012. In January 2011, we saw 44 homes sold, in 2010, we had 27 homes sell, and in January 2009, a mere 22 homes sold.

Here are Carson Valley homes sales numbers for January 2012:

47 homes sold

Median asking price is $163,500

Median selling price is $159,000

Median days on market is 128

So what is the absorption rate for the Carson Valley?

There are 295 homes for sale in the Carson Valley as of February 10, 2011

47 homes sold in January

295 / 47 = 6.28 months of inventory

The time of the optomist is upon us in the Carson Valley. Of the 295 homes available for sale, 51 are short sales, and 35 are bank owned. That means 29% of our market is distressed. That means there are only 209 homes available in the Carson Valley you can buy today as traditional sales. Buyers are tired of considering short sales as a housing option, and most homes that are not a short sale or bank owned offering are selling more quickly. Further, even appraisers appear to be now granting non-distressed sales a premium in valuation somewhere between 8-10% due to the nature of the sale.

The bottom line is pay attention to the wind because it’s beginning to blow a different direction. If you’re a buyer and you see something you like, be ready to write right away. Most homes are now seeing multiple offers and the inventory continues to shrink. Even the Record-Courier reported recently that it’s officially a seller’s market. If you are not a buyer paying attention, you could get left behind.

(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)